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In this video, attorney Robert Less discusses the risks associated with purchasing property through a quitclaim deed. He explains that a quitclaim deed conveys only the seller's interest in a property, without warranty of ownership, meaning the buyer might assume any existing liens. This poses significant risks for the buyer compared to a warranty deed, which offers more protection. Quitclaim deeds are commonly used in divorce cases for transferring property between spouses, or when parents transfer property to their children. They may also apply to members of a limited liability company transferring their shares.